Global Electric Power Steering Market: Key Research Findings 2017
Research Outline
- Research period: From May to September, 2017
- Research target: Manufacturers of EPS (electric power steering) systems and EPS components, etc.
- Research methodologies: Face-to-face research by the expert researchers, surveys via telephone/email, and literature research
What is an Electric Power Steering?
An EPS (Electric Power Steering) is a technology to assist an automotive steering system by using an electric motor. ECUs (Electronic Control Units) receive signals from torque sensors to judge the current vehicle conditions and determine the right assistance needed for DC motors. There are three types of EPS according to the place where it assists the drivers from (or according to where the motor is attached): Column-, Pinion-, or Rack-assist EPS. They have been rapidly gaining grounds due to improved fuel efficiency and control functions compared to conventional hydraulic power steering systems. This report also covers EHPS (Electronic Hydraulic Power Steering), which assist steering by generating hydraulic pressure using electric motors.
Summary of Research Findings
- Global Total EPS/EHPS Market Size in 2016 Projected to Achieve 53,700 Thousand in Volume, Out of Which EPS to Attain 50,000 Thousand and EHPS 3,700 Thousand, Total Market Size Estimated to Rise to 69,400 Thousand by 2020, and 84,100 Thousand by 2025
The forecast of shipment volume of EPS at manufacturers in 2016 is projected to achieve 50,000 thousand, EHPS to be 3,700 thousand, which gives 53,700 thousand altogether. Stricter fuel-economy regulations and wider acceptance of vehicles equipped with ADAS (Advanced Driving Assistant System) are regarded to be the factors to expand introduction of EPS in automobiles in the world, especially in North America and China where introduction of EPS has been late. On the other hand, the EHPS market is expected to be on the decline, as power capacity of EPS, which have higher fuel efficiency, becoming larger. The EHPS market size is estimated to be 3,700 thousand in 2016, but its demand is projected to shrink to 1,900 thousand by 2025.
- Demands Likely to Polarize Between High-End Types to Adapt with Automatic Driving/ Redundant Designs and Low-End Types Focusing More on Low Cost
When looking at the EPS market in 2016 by type, those categorized as column-assist types occupy the majority. In the mid-term view, such cost-efficient column-assist types are projected to draw on the demands mainly in China and Asian countries where people drive small automobiles. To the contrary, there emerged those EPS with larger power capacity to be installed in large automobiles, and a new motor control unit (MCU) to achieve safer EPS that adopts a redundant 2-drive technology. In the long run, EPS is required at the time of automatic driving. Therefore, the market continues to see the polarization of EPS between high-end types for automatic driving and low-end types that place importance on cost.
- Figure & Table 1: Forecast of Global Demand of EPS&EHPS in Volume by Type
- Figure 2: Global Demands of EPS&EHPS in Volume by Region
